D.E.I.: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
D.E.I.
Largest movements
- Cash -€239,479
down €239,479 (-42.6%), from €561,997 to €322,518
mainly Stocks and contracts (-€239,200) and Short-term financial debts (-€200,000)
- Stocks and contracts +€239,200
up €239,200 (+54.3%), from €440,499 to €679,699
- Receivables within one year -€192,754
down €192,754 (-29.1%), from €662,814 to €470,060
of which Trade receivables: -€142,790
- Tangible fixed assets -€34,136
down €34,136 (-2.7%), from €1.3m to €1.2m
of which Land and buildings: -€54,121
- Short-term financial debts -€200,000
down €200,000 (-100.0%), from €200,000 to €0
of which Credit institutions: -€200,000
- Reserves +€178,793
up €178,793 (+61.9%), from €288,701 to €467,494
of which Distributable reserves: +€180,000
- Debts after one year -€119,206
down €119,206 (-16.1%), from €740,798 to €621,592
- Trade debts -€80,235
down €80,235 (-15.6%), from €514,944 to €434,709
- Other debts -€30,000
down €30,000 (-100.0%), from €30,000 to €0
- Gross operating margin -€224,036
down €224,036 (-14.1%), from €1.6m to €1.4m
- Taxes -€31,376
down €31,376 (-24.5%), from €127,998 to €96,621
- Write-downs +€29,836
up €29,836, from -€21,009 to €8,827
- Staff costs -€16,784
down €16,784 (-1.9%), from €889,334 to €872,550
From the 2023 result to the 2024 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,954,916 | €2,736,360 | -€218,556 | -7.4% |
| Fixed assets | 21/28 | €1,271,584 | €1,241,233 | -€30,351 | -2.4% |
| Intangible fixed assets | 21 | - | €3,471 | +€3,471 | |
| Tangible fixed assets | 22/27 | €1,271,584 | €1,237,447 | -€34,136 | -2.7% |
| Land and buildings | 22 | €1,157,077 | €1,102,956 | -€54,121 | -4.7% |
| Plant, machinery and equipment | 23 | €26,000 | €19,758 | -€6,241 | -24.0% |
| Furniture and vehicles | 24 | €88,507 | €114,733 | +€26,226 | +29.6% |
| Financial fixed assets | 28 | - | €315 | +€315 | |
| Current assets | 29/58 | €1,683,333 | €1,495,127 | -€188,206 | -11.2% |
| Stocks and contracts in progress | 3 | €440,499 | €679,699 | +€239,200 | +54.3% |
| Stocks | 30/36 | €440,499 | €679,699 | +€239,200 | +54.3% |
| Amounts receivable within one year | 40/41 | €662,814 | €470,060 | -€192,754 | -29.1% |
| Trade receivables | 40 | €522,280 | €379,490 | -€142,790 | -27.3% |
| Other amounts receivable | 41 | €140,534 | €90,570 | -€49,964 | -35.6% |
| Cash at bank and in hand | 54/58 | €561,997 | €322,518 | -€239,479 | -42.6% |
| Deferred charges and accrued income | 490/1 | €18,023 | €22,850 | +€4,828 | +26.8% |
| Total equity and liabilities | 10/49 | €2,954,916 | €2,736,360 | -€218,556 | -7.4% |
| Equity | 10/15 | €1,200,456 | €1,386,342 | +€185,886 | +15.5% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €288,701 | €467,494 | +€178,793 | +61.9% |
| Tax-exempt reserves | 132 | €20,514 | €19,307 | -€1,207 | -5.9% |
| Distributable reserves | 133 | €268,187 | €448,187 | +€180,000 | +67.1% |
| Profit (loss) carried forward | 14 | €801,804 | €809,223 | +€7,419 | +0.9% |
| Investment grants | 15 | €97,551 | €97,225 | -€326 | -0.3% |
| Provisions and deferred taxes | 16 | €6,838 | €6,436 | -€402 | -5.9% |
| Deferred taxes | 168 | €6,838 | €6,436 | -€402 | -5.9% |
| Amounts payable | 17/49 | €1,747,623 | €1,343,583 | -€404,040 | -23.1% |
| Amounts payable after more than one year | 17 | €740,798 | €621,592 | -€119,206 | -16.1% |
| Financial debts | 170/4 | €740,798 | €621,592 | -€119,206 | -16.1% |
| Amounts payable within one year | 42/48 | €1,001,895 | €721,251 | -€280,644 | -28.0% |
| Current portion of amounts payable after more than one year | 42 | €142,956 | €160,241 | +€17,285 | +12.1% |
| Financial debts | 43 | €200,000 | €0 | -€200,000 | -100.0% |
| Credit institutions | 430/8 | €200,000 | €0 | -€200,000 | -100.0% |
| Other loans | 439 | €0 | - | = | |
| Trade debts | 44 | €514,944 | €434,709 | -€80,235 | -15.6% |
| Suppliers | 440/4 | €514,944 | €434,709 | -€80,235 | -15.6% |
| Taxes, remuneration and social security | 45 | €113,995 | €126,301 | +€12,306 | +10.8% |
| Taxes | 450/3 | €48,370 | €64,621 | +€16,252 | +33.6% |
| Remuneration and social security | 454/9 | €65,626 | €61,680 | -€3,946 | -6.0% |
| Other amounts payable | 47/48 | €30,000 | €0 | -€30,000 | -100.0% |
| Accrued charges and deferred income | 492/3 | €4,930 | €740 | -€4,190 | -85.0% |
| Remuneration, social security and pensions | 62 | €889,334 | €872,550 | -€16,784 | -1.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €102,934 | €117,554 | +€14,621 | +14.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€21,009 | €8,827 | +€29,836 | |
| Other operating charges | 640/8 | €41,359 | €33,302 | -€8,057 | -19.5% |
| Non-recurring operating charges | 66A | €24,340 | €0 | -€24,340 | -100.0% |
| Gross operating margin | 9900 | €1,590,280 | €1,366,244 | -€224,036 | -14.1% |
| Operating profit (loss) | 9901 | €553,322 | €334,010 | -€219,312 | -39.6% |
| Financial income | 75/76B | €1,404 | €1,233 | -€170 | -12.1% |
| Recurring financial income | 75 | €1,404 | €1,233 | -€170 | -12.1% |
| Financial charges | 65/66B | €37,828 | €52,812 | +€14,985 | +39.6% |
| Recurring financial charges | 65 | €37,828 | €52,812 | +€14,985 | +39.6% |
| Profit (loss) for the period before taxes | 9903 | €516,898 | €282,431 | -€234,467 | -45.4% |
| Transfer from deferred taxes | 780 | €402 | €402 | = | 0.0% |
| Income taxes | 67/77 | €127,998 | €96,621 | -€31,376 | -24.5% |
| Profit (loss) for the period | 9904 | €389,302 | €186,212 | -€203,090 | -52.2% |
| Transfer from tax-exempt reserves | 789 | €1,207 | €1,207 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €390,509 | €187,419 | -€203,090 | -52.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.